Women’s state pension age equal to men’s from Tuesday

Women’s state pension age will be equal to men’s state pension age from Tuesday the 6 November, after legislation was first passed in 1995.

However, SavvyWoman.co.uk founder, Sarah Pennells, has said that “women still retire on less than men and rely on the state pension more”. Figures from the Chartered Insurance Institute show that men have five times more in their pensions than women at 65.

“Hundreds of thousands of women have suffered financially because of the decision to raise their state pension age to 65, and – more importantly – the failure of successive governments to tell the women who were affected,” Pennells said. “The state pension age will be 66 in less than two years, and, in that time, many more women born in the 1950s will lose out.”

Pennells said that she used to think that the decision to raise the state pension age for women to 65 was the right one, but the lack of notice to the women affected was “appalling”. However, she has since changed her mind.

“A woman’s prospects at retirement are based on the workplace looking back over the last 40 years, not looking forward. And, as there wasn’t equality of opportunity for 1950s women, I think the state pension age for women shouldn’t have been increased to 65 without the introduction of targeted help for those who couldn’t make up the shortfall.

“Even if women had been given the full 15 years’ notice of a rise in their state pension age, it would have only helped those who could afford to save extra to make up the difference. And many of these women couldn’t.”

    Share Story:

Recent Stories


FREE E-NEWS SIGN UP

Subscribe to our newsletter to receive breaking news and other industry announcements by email.

  Please tick here to confirm you are happy to receive third party promotions from carefully selected partners.


Helping the credit challenged get mortgage ready
A rising number of borrowers are finding it harder to access mortgages due to being credit challenged - whether that’s from historic debts, a county court judgment, or having little to no credit history.

In the latest episode of the Mortgage Insider podcast, Phil Spencer is joined by Eloise Hall, Head of National Accounts at Kensington Mortgages, and Alastair Douglas, CEO of TotallyMoney.


Inside the world of high net worth lending
The mortgage market continues to evolve, and so too does the answer to the question: what is a high net worth individual in today’s market? In this episode of the Mortgage Insider podcast, host Phil Spencer is joined by Stephen Moroukian, Head of Product and Proposition for Real Estate Financing at Barclays Private Bank, and Islay Robinson, founder and CEO of Enness Global. Together, they explore what brokers really need to know when supporting high net worth individuals.

The future of the bridging industry and the Autumn Budget
MoneyAge content editor, Dan McGrath, is joined by head of marketing at Black & White Bridging, Matt Horton, to discuss the bridging industry, the impact of the Autumn Budget and what the future holds for the sector.